Geocoding boils down to a very simple concept. Essentially, it is the process of converting an address such as 7000 East Belleview Avenue, Greenwood Village, Colorado into geographic coordinates with a latitude (X) and longitude (Y): A point on a map. Geocoding enables data visualization for a fuller appreciation of its significance.
Although simple in concept, this task can be quite difficult and organizations have a hard time deploying reliable enterprise wide systems to handle it.
Because geocoding is the foundation on which all of your spatial decisions are made, the results must respect a certain level of accuracy and precision depending on your needs. For example, a flood underwriting company will need more precise locations than a telemarketer.When choosing the right geocoding solution for your business, many factors such as coverage, deployment (cloud or on premise) or cascading logic have to be evaluated. This is where Korem can help you choose the best fit for use solution. Once your data is geocoded to the appropriate level, you’ll have the ability to enrich it and use the information to understand complex location-based relationships and improve all aspects of your business.
Reverse geocoding is the process of using geographical coordinates (longitude/latitude) to find location description such as postal code, zip code, address, or place name. It is particularly used by mobile applications leveraging GPS coordinates provided by the device.
Once the data is geocoded, it can be enriched and analyzed, and this is where the actual value of the geocoding efforts are realized. With geocoding, you’ll be able to:
- Increase your knowledge of your customers, hence have more effective marketing initiatives;
- Reduce risk by having an accurate understanding of your customer’s exposure and relationship with other customers;
- Plan your investment around areas where you have the most potential revenues.
- Use the geocoded data to enrich company information with other relevant information.
Korem’s expertise in geocoding enables us to provide strategic advisory aligned with your business needs. We will help you choose the right solution from the following partners: